And this entire discussion overlooks the issue of "company standards," which you likely have to follow for no better reason other than to remain employed. But for most of us, that likely takes precedence over laws that are in force in parts of the world we have no plans to visit.

Also note that other industry bodies (ASM, for example, which oversees the maintenance of the ASTM family of standards) may well have different distinctions between the meanings of "Codes" and "Standards." And ASCE-7 and the IBC, which regulate structural design in the US [and therefore seismic analysis of piping systems], are commonly considered to be "Codes," although they both have the force of law in all the civilized states (California still has not adopted the IBC as far as I know).

So there may be no consistent distinction between the meaning of the two terms. One more reason why you're never going to see any reputable university offering an undergraduate degree in "Piping Stress Analysis."

:-)